Gold: This will be the best trading strategy currently available

Gold has shown strong momentum today, breaking through the 1900 level. As of now, the upward trend has not been completely exhausted, and the risk of bank runs is likely to continue to drive gold higher. Our next resistance target is around 1918, followed by 1931, and if we can break through, 1958 will be our highest target in the near future.

During the upward movement, we need to pay attention to several support levels: 1900, 1887, 1863, and 1855. As long as the support is not broken, the price of gold will continue to rise.

At the same time, we need to pay attention to the follow-up impact of the recent SVB bankruptcy event, focusing on whether the Fed's response plan is effective. If risk aversion subsides, the probability of a sharp drop in gold prices will increase.

I will continue to track market trends and share my trading strategies. Thank you for your attention and support!

Trade active:

Near the first buying point, you can buy long positions with sufficient margin

Comment:

Gold is pulled up in the short term, and the longs held can take profit near 1912, or you can choose to hold positions and wait near the resistance level of 1918

Comment:

Gold fell back after rising to around 1812. Friends who have taken profit can choose to do long again around 1906-1900. Friends who have not taken profit can continue to hold your long position

Comment:

At present, there are some resistances around 1912. If your margin is not sufficient and you like to trade quickly, the long positions around 1906 can take profit again